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Author Topic: Why do some people refuse to accept bitcoin?  (Read 1052 times)
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January 22, 2019, 08:19:53 AM

 Bitcoin is a digital currency hence it is money. Investing in Bitcoin does't protect your money. Every investment has risk. So you have to bear risk to increase your money. Some people don't like to change anything first but they realize  when others already accepted.

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January 22, 2019, 08:31:19 AM

I think there are many factors limiting the adoption of bitcoin by the public.
These factors can be because of the volatility nature of Cryptocurrency, which makes Cryptocurrency not suitable as a medium of exchange for goods and services.
Another thing, is the sheer difficulty associated with owning Cryptocurrency......which limits potential investors and thereby decrease the adoption rate of bitcoin.

Yes, volatility is the main reason why it is difficult to accept as a currency. In addition, there is a total supply in bitcoin that will definitely bring other problems in the future if bitcoin will be accepted as a currency in the whole world. What if people keep holding their bitcoins in their wallets and there are only a few bits of bitcoin on the market? To my knowledge, the currency is under government control, so if there are things that require special handling, the government can intervene. Whereas with bitcoin, there is no institution or person who can control it. This certainly can cause extraordinary issues.

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January 22, 2019, 09:53:06 AM

In my country as cryptocurrency is ban so using it is not legal that is why the people and merchants are afraid to use it. Apart from that as everyone knows that most of the people think that cryptocurrency is a big bubble which will burst one day and they dont want to be included in scam. I think until cryptocurrency get legal status normal people will be afraid to use it

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